The most talked about Tesla stocks on WallStreetBets are heading into a new week; Nvidia, sundial and these are other big trends – Tesla Motors (TSLA)
Tesla Inc. (NASDAQ: TSLA) continues to be the the most discussed action on Reddit r / WallStreetBets forum from Monday morning, while Nvidia Corp. (NASDAQ: NVDA), Sundial Growers Inc. (NASDAQ: SNDL), Tilray Inc. (NASDAQ: TLRY) and GameStop Corp. (NYSE: GME) are also generating significant interest.
What happened: Tesla sees most interest on forum with 152 mentions at time of publication, followed by exchange-traded funds SPDR S&P 500 ETF Trust (NYSE: SPY) with 121 mentions.
Graphics chipmaker Nvidia and cannabis company Sundial sit third and fourth, with 78 and 50 mentions, respectively.
Along with cannabis company Tilray and video game retailer GameStop, other hot actions on the forum include chipmaker Advanced Micro Devices Inc. (NASDAQ: AMD), manufacturer of electric vehicles Rivien Automobile Inc. (NASDAQ: RIVN), exchange-traded fund Invesco QQQ Trust (NASDAQ: QQQ) and Facebook Inc. (NASDAQ: FB).
See also: Josh Brown on Nvidia Downgrade: “One of the Most Ridiculous Things I’ve Ever Read”
Why is this important: Nvidia arouses strong interest on forum after Wedbush analyst Matt Bryson lowered Nvidia from Outperform to Neutral and raised the price target from $ 220 to $ 300. The analyst cited the downgrade assessment, with stocks trading at 55 times its 2024 figures.
Nvidia is expected to release its financial results on Wednesday after the market closes.
Sundial shares surged in Friday’s regular trading session after the company announced a recovery in third-quarter earnings and said its board of directors approved a new share buyback program of up to 100 million Canadian dollars.
Tilray also emerged among the most discussed actions on the forum over continued hopes for legalization amid a Republican-led marijuana legalization bill.
Shares of newly listed electric vehicle maker Rivian Automotive gained 5.7% in Friday’s regular trading session. A Reddit user said in a forum post that he believed Rivian would “cut a big blow” because his rating is based on what Tesla did.
Price action: Tesla shares closed down 2.8% in Friday’s regular trading session at $ 1,033.42 and lost another 0.3% in the after-hours session at $ 1,029.99 .
SPDR S&P 500 ETF Trust shares closed up nearly 0.8% in the regular trading session at $ 467.27 and rose again by less than 0.1% in the after-hours session at $ 467.60.
Nvidia shares closed flat on the regular trading session at $ 303.90, but lost 0.8% in the after-hours session at $ 301.40.
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